Posts made by author 'Frank Malone, Managing Broker - Gulf Shores'

As Bellator Expert Real Estate Advisors, we can go about our average day with our hot list, warm list, call list, follow up list, market studies, favors for folks, etc. as every normal day, where days just run together and time just passes by. It is very easy to disregard the things we do every day as just regular tasks. But, if you sit and really think about it, most all of the things we do each day are to provide service to others. When you look at it that way, providing service to others is much more meaningful than just a "to do" list. 

The current national real estate landscape is changing in how we get compensated, take listings, and represent buyers. I won't go into our future policies and procedures here, because it is all a work in progress...

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NEWS FLASH! Congress is arguing.

If the government does not pass stopgap spending measures by the end of this fiscal year on Saturday at midnight (9/30), beginning on Sunday, October 1, a government shutdown of "non-essential" services will begin. The United States has had 14 similar shutdowns since 1980 and the most recent was in 2018-2019, and it was the longest at 34 days. We have had 22 shutdowns in the last 50 years. At least we have survived these before, but there are some things us real estate warriors need to know:

1. FLOOD INSURANCE
   Regarding the National Flood Insurance Program, there are some SIGNIFICANT effects of a lapse in authority from Congress (aka "Government Shutdown") for NFIP issuance of flood policies, including renewals as detailed below (

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Roughly two years ago I was at an event where Andy Andrews was the guest speaker. Many of us have heard him tell his story of the importance of your actions and their profound effect on others around you. What you say and do matters. 

Taken from one of the reviews on Amazon of The Butterfly Effect written by Andy Andrews, "The idea is that good, seemingly small things that we do cause a ripple like effect . . . resulting in some amazing outcomes as our influence touches others lives, who then affect others for good and it goes on." In the story, a caring couple saves a baby from rough kidnappers some 200 years ago which leads to saving 2 billion people from starving 150 years later. Wait, WHAT???? If you don't know the story, you should read the book.

Occasionally, I trace back certain real estate transactions to their origin and find that they...

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In my little real estate world, a certain question, or request, from buyers' agents has been popping up lately that was not typical in years past. I have seen it in several different forms, but it is all the same: Buyer agents asking, requesting, or demanding a commission rate higher than what is being offered in MLS.  
 

Three times in the last month, I've experienced the following:

1. An offer written on a listing where other provisions state, "Commission to selling agent to be X"  (the request was higher than the MLS offering).
2. Prior to an offer being written, the buyer agent requested a higher commission. I said no, and the offer came without the request.
3. After countering an offer and prior to the receiving the buyer acceptance, the agent called and said that we have an agreement, and then the agent requested a higher sale-s...

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It has been a little over a year since Fannie Mae guidelines changed regarding condominium structural integrity inspections. If you recall, the guidelines were changed because of the Surfside Condominium collapse in June 2021. Towards the beginning of 2022, Fannie Mae issued the revision to their requirements (we covered this in a Broker Bit about 1 year ago) and the effects of the change has slowly trickled into our market. I am only aware of a few condominiums in the Gulf Shores / Orange Beach area that have actually engaged in the "milestone inspection," but I am certain that it will become more commonplace in the next few year...

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